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Tuesday, March 03, 2009

Ivanka Trump: Panama Hottest Market

Ivanka Trump sees Panama’s real estate market as the hottest worldwide, with demand outstripping supply on the Trump tower there.
Ivanka Trump: We’ll be in Panama for many years after the Trump Ocean Club is ready.
The unique design of the Trump Ocean Club is a key draw, Ivanka Trump says.


Ivanka Trump, executive vice president of development and acquisitions at U.S.-based Trump Organization, is bullish on Panama.


“I have projects all over the world [and] have a unique sense of the global real estate climate and submarkets,” she tells Latin Business Chronicle. “With great conviction, [I can say that] Panama is one of the strongest, if not the strongest, real estate market. Our biggest problem is not having enough inventory. We only have a small percent of the building left.”


The 70-story Trump Ocean Club is ...


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From: halloranc

panama city, panama
Is there any truth to this article at ALL? If the Trump Ocean club's only problem were inventory, why did they need to issue a bond in order to continue construction, while other projects met their pre-sale requirements and built with bank loans? I really hope the Trump project works, as it is the canary in the coal mine. If it fails, there will be a lot of trouble for the rest of Panama City's high end real estate projects. Worse, it may poison the water for future large-scale developments. But then again, maybe that's just what Panama needs?

From: Scott

We'll see if if the T.O.C. (1)really does sell out and (2)whether those buyers have cash and are not seeking financing and (3)if those same buyers make it to the closing table.

Ivanka was more than kind with her compilments "It’s got a great government" and "I’m impressed with their forward thinking". Maybe the beautiful Ivanka had a wink in her eye as she spoke these words.

Panama does need additional hotel capacity in the City. I am just unsure about the prospects for many dozens of other high-rises that are set for delivery along with the T.O.C. next year. These are certainly not sold-out yet and do not carry the Trump brand.

From: Zachary

Panama City
Well the buyers put up 30% of the purchase price in cash deposits and many don't need to borrow money to pay for their apartments. I believe that T.O.C. will be completed and delivered but not because of Donald Trump or the Trump name but rather because of the actual developers (K-Group and Roger Khafif) ability and financial committment to the project. This project is being marketed all over the world directly to strong buyers for the most part.

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